Barney Frank was interviewed today and though it was hard to understand where he was coming from he did NOT feel that the three rating companies should have any say in the business of the US. It is amazing how Barney and others of his ilk are so insulated from reality that they can not look down the road.

Lincoln convinced suppliers to accept paper money to allow for the North to pay for the war. The South did the same. The paper dollars were to be redeemed at a later date. Much of the faux money was never redeemed, DEFAULT #1!

FDR took our "paper money" off the gold standard and allowed the Fed Resereve to take control of the money supply, loosely basing it on the GNP. (read "The Creature from Jekyll Island) DEFAULT #2

The above two were defaults on the faith of the American people. This one, DEFAULT #3 will be a default on the faith the Ameriucan people "and "of ALL of our lenders.

The time to prepare is nearly past. Many on the left and some of the rest of America including especially obama, still believe we can spend our way to a welfare state and economic bliss.

Barney Frank was interviewed today and though it was hard to understand where he was coming from he did NOT feel that the three rating companies should have any say in the business of the US. It is amazing how Barney and others of his ilk are so insulated from reality that they can not look down the road.

Lincoln convinced suppliers to accept paper money to allow for the North to pay for the war. The South did the same. The paper dollars were to be redeemed at a later date. Much of the faux money was never redeemed, DEFAULT #1!

FDR took our "paper money" off the gold standard and allowed the Fed Resereve to take control of the money supply, loosely basing it on the GNP. (read "The Creature from Jekyll Island) DEFAULT #2

The above two were defaults on the faith of the American people. This one, DEFAULT #3 will be a default on the faith the Ameriucan people "and "of ALL of our lenders.

The time to prepare is nearly past. Many on the left and some of the rest of America including especially obama, still believe we can spend our way to a welfare state and economic bliss.

We do live in interesting times.

Slàinte,

Patch

Barney Frank and his ilk are the turds swirling around the drain. They will also be the first to say, "But I didn't think it would end up this way!" I truly believe that they enjoy creating as much havoc as possible just to watch everyone else scramble as their entertainment for the day. They care for no one else except themselves. Talk about egomania.

The time to prepare is almost past. Even though they passed the joke of a bill to raise the debt ceiling. It does nothing to address the underlying causes of the problem. America's credit rating will go down as some of the rating agencies have already indicated.